• Offered by Research School of Economics
  • ANU College ANU College of Business and Economics
  • Course subject Economics
  • Areas of interest Economics

This course analyses the economic principles underlying the design of efficient environmental policies and the optimal management of natural resources. It identifies conditions under which market failures lead to environmental degradation or to the overexploitation of natural resources, and discusses economic policies that can counteract such market failures. Such policies include imposing taxes on certain economic activities, or allocating property rights that allow these activities to be undertaken. If property rights—which may take the form of pollution permits, or individual quotas for the harvesting of natural resources—are transferable between agents, the trade of property rights between self-interested agents yields economic efficiency as a market-based outcome.

Learning Outcomes

Upon successful completion, students will have the knowledge and skills to:

  1. demonstrate an understanding of how various market failures may lead to environmental degradation or the overexploitation of natural resources;
  2. use economic modelling to evaluate various approaches to the design of efficient environmental policies and of rules for the optimal management of natural resources;
  3. Construct and analyse simple dynamic models of natural resource management.

Indicative Assessment

  1. Assessment may consist of a Final Exam, mid-semester exam(s), quizzes, assignments or some combination thereof. See the Class Summary for details. (100) [LO 1,2,3]

The ANU uses Turnitin to enhance student citation and referencing techniques, and to assess assignment submissions as a component of the University's approach to managing Academic Integrity. While the use of Turnitin is not mandatory, the ANU highly recommends Turnitin is used by both teaching staff and students. For additional information regarding Turnitin please visit the ANU Online website.

Workload

130 hours in total over the semester consisting of lectures, tutorials and private study time.

Inherent Requirements

Not applicable

Requisite and Incompatibility

To enrol in this course you must have successfully completed ECON2101. You are not able to enrol in this course if you have previously completed ECON2128.

Prescribed Texts

See Class Summary

Assumed Knowledge

You should possess basic mathematical skills, such as being able to solve algebraic equations, graph functions, and take derivatives and partial derivatives. Additional formal techniques for constructing and analysing dynamic models will be developed as part of the course.The book by William Nordhaus listed below as an additional reference provides background and motivation for many of the issues that will be discussed during the semester, and would thus be useful preliminary reading.
 
 

Fees

Tuition fees are for the academic year indicated at the top of the page.  

Commonwealth Support (CSP) Students
If you have been offered a Commonwealth supported place, your fees are set by the Australian Government for each course. At ANU 1 EFTSL is 48 units (normally 8 x 6-unit courses). More information about your student contribution amount for each course at Fees

Student Contribution Band:
34
Unit value:
6 units

If you are a domestic graduate coursework student with a Domestic Tuition Fee (DTF) place or international student you will be required to pay course tuition fees (see below). Course tuition fees are indexed annually. Further information for domestic and international students about tuition and other fees can be found at Fees.

Where there is a unit range displayed for this course, not all unit options below may be available.

Units EFTSL
6.00 0.12500
Domestic fee paying students
Year Fee
2022 $4440
International fee paying students
Year Fee
2022 $5700
Note: Please note that fee information is for current year only.

Offerings, Dates and Class Summary Links

The list of offerings for future years is indicative only.
Class summaries, if available, can be accessed by clicking on the View link for the relevant class number.

Second Semester

Class number Class start date Last day to enrol Census date Class end date Mode Of Delivery Class Summary
5945 25 Jul 2022 01 Aug 2022 31 Aug 2022 28 Oct 2022 In Person N/A

Responsible Officer: Registrar, Student Administration / Page Contact: Website Administrator / Frequently Asked Questions